This week, a government event dubbed 'Crypto Week' garnered the attention of cryptocurrency investors as lawmakers attempted to pass three significant regulatory bills.
US Legislative Initiatives on Cryptocurrency
US lawmakers have approved bills addressing digital asset regulation, including the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. These initiatives aim to establish a regulatory framework for cryptocurrencies and stabilize initiatives related to central digital currencies.
Bitcoin Surpasses Amazon's Market Capitalization
Bitcoin has become the fifth largest asset globally, surpassing Amazon, which correlates with its price increase to a new record. Currently, Bitcoin's market capitalization exceeds $2.4 trillion, only $730 million shy of Apple's.
State of Decentralized Finance (DeFi) Market
According to a recent report, Bitcoin-based decentralized finance (BTCFi) protocols significantly increased their total value locked (TVL) to $7.05 billion as of now. However, several users express distrust due to risks associated with utilizing such platforms.
Optimism in cryptocurrency regulation and positive dynamics in the decentralized finance sector indicate a growing interest from institutional investors and the establishment of a more robust market structure.
